SI-BONE slips as brokerages cut PT on exchange rate fears

SI-BONE

08/11/2022 15:12

** Shares of medical devices maker SI-BONE Inc  SIBN.O 
slip ~6% to $15.78 after brokerages cut PT on a strengthening
dollar
    ** Needham cuts PT for co to $22 from $24, keeps 'buy'
rating
    ** Says looming foreign exchange fears, slower recovery in
Europe and supply issues for its product iFuse Granite will
pressure the co
    ** Truist cuts PT to $20 from $22; reiterates concerns on
worsening currency exchange rates weighing on FY22 sales 
    ** Co on Monday cut its FY22 rev. forecast to a range of
$104 mln to $105 mln from $106 mln to $108 mln  urn:newsml:reuters.com:*:nTUA3X7JX6
    ** Including session moves, stock down ~29% YTD
 (Reporting by Anirban Chakroborti in Bengaluru)
 ((Anirban.Chakroborti@thomsonreuters.com;))